AUD/USD surges through 0.80 mark on solid Australian jobs report

Haresh Menghani FXStreet

The AUD/USD pair reversed early dip to 0.7970 level and spiked to fresh session tops, beyond the key 0.80 psychological mark post Australian jobs data.

The pair snapped three consecutive days of losing streak and caught some fresh bids after the latest Australian employment details showed that the number of employed people surpassed even the most optimistic estimates and increased by a stellar 54.2K during the month of August.

The jump in headline figure was primarily led by a surge in full-time employment and lifted the domestic currency sharply higher across the board, with the pair spiking over 40-pips from closer to one-week lows.

Technical levels to watch

Immediate resistance is pegged near 0.8025 level, which if cleared could accelerate the up-move towards 0.8050-55 hurdle before the pair eventually darts towards reclaiming the 0.8100 handle.

On the flip side, weakness back below the 0.80 handle might continue to find support near 0.7970 area, which is closely followed by support at 0.7940 level.

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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